From: jpc2@njit.edu
Sent: Monday, March 29, 2004 10:55 PM
To: rule-comments@sec.gov
Subject: Many Thanks
To whom it may concern:
I recently learned that the SEC has proposed reforms regarding the nominations
of board members for publicly-owned corporations. I applaud the commission for
taking this step toward bringing about a more trustworthy election environment
in Corporate America. As a commission that works toward promoting the integrity
of large businesses in our country, it is imperative that the commission listen
closely to the citizen-shareholders who have the most at risk here.
As shareholders, we all deserve some share-dependent control over how the
corporations we own pieces of are governed. Currently, the nomination system in
place supports an anti-democratic environment because the votes of shareholders
are so easily ignored by the board members currently sitting in those
corporations. You have probably heard of how board members can re-nominate
themselves or nominate their friends to take empty seats. Such practices are
unacceptable because of the way they can so easily ignore the views of the very
people who own the company.
I implore those of you at the SEC who are listening us tax-paying shareholders
to seek more sweeping changes in the way that our corporations are governed.
Although there are certainly a great deal of vocal chairpersons in those
corporations who are benefiting from the current conditions, it is vital that
conditions make a transition towards greater accountability and justice. There
is an even greater number of Americans who depend upon the SEC to guide our
corporations towards a better position than they are in now. Please, do not let
down current and future shareholders by holding back on this issue. Your
attention and action are greatly appreciated.
Sincerely,
Mr. Jonathan Clermont